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These two bitcoin bear market indicators may tell investors when cryptos will bounce back, says J.P. Morgan

·5 min read
These two bitcoin bear market indicators may tell investors when cryptos will bounce back, says J.P. Morgan

Bitcoin and other crypto assets have had a rough ride over the past month. While the leading crypto got a boost on Wednesday after news that lawmakers in El Salvador voted to approve bitcoin as legal tender, its price remains nearly 40% below highs of around $60,000 from as recently as a month ago. The first red flag is that bitcoin futures have shifted into “backwardation” for the first time since 2018, the strategists said.